How is Large business defined in a legal contract?
- Large business means any business that is not owned by a woman, minority, or a service-disabled individual or any business that has more than a specified number of employees or gross receipts above a certain threshold over the previous three years. Seen in 23 SEC Filings
- Large business means an entity for which fifty or more people perform work for compensation during a given week, including full-time, part-time, or temporary workers, including those provided through a temporary services or staffing agency, or a similar entity. The phrase “large business” also refers to a business registered as a franchise or franchisee under a certain law or code. Seen in 5 SEC Filings
- Large business means an employer that on average employs a certain number of employees. Seen in 4 SEC Filings
- Large business means any type of legal entity including a corporation, partnership, limited liability company, or joint stock company that maintains a certain number of specific operating sites and central billing. Seen in 4 SEC Filings
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Large Business means any non-minority run business operating beyond a set employee or revenue benchmark.
Relevant Contract Types
Relevant Circumstances
- When designing business ownership and operational structures
- When initiating employment contracts or partnership arrangements
Relevant Sectors
Genie Definition 2
Large Business means an entity where fifty-plus people work weekly, holding franchise or franchisee status under [Governing Law].
Relevant Contract Types
Relevant Circumstances
- For establishing franchise relationships
- When incorporating business entities
Relevant Sectors
Genie Definition 3
Large Business means entities maintaining [Number of Sites] with centralized billing arrangements.
Relevant Contract Types
Relevant Circumstances
- When entering into telecommunication contracts
- When establishing multi-site operations
Relevant Sectors
Are you creating, reviewing or negotiating a document?
🚀 Try our AI Legal Assistant! It can suggest a definition just for your specific needs (Simply import your contract, then ask it to draft a definition suitable for your document, that's it!)
Large Business means any non-minority run business operating beyond a set employee or revenue benchmark.
.png)
.png)
